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Strategies & Market Trends : Harmonic Trading with The Phoenix -- Ignore unavailable to you. Want to Upgrade?

To: Dan Duchardt who wrote (392)	3/15/2003 8:46:19 PM
From: the-phoenix	Read Replies (2) \| Respond to of 941

I trade them sometimes, but have found that the small intraday patterns are less reliable than the larger patterns. In this case, I was actually looking for it to hit the .886 at 838.50, which it did shortly after I posted the chart. I took the 2 1/2 point drawdown to the HOD at 841 and covered it at 831.75 for better than a 2:1 risk/reward. Given that this occurred near the previous HOD at 840, I had my stop above that, but was looking for more than 834 on the pullback, based on other factors. I draw these by hand. eSignal doesn't have any capability for these patterns. You really went short right at 10 o'clock?